Abstract
We must now return to the early 1880s. John Burns had become Chairman of the recently incorporated Company and the keynote of new activity was sounded by him in his speech at the Ordinary General Meeting on 27 April 1881. ‘The steam navigation of this country’, he declared, ‘like almost every branch of industry, is carried on under circumstances of keen competition and, for any company to succeed, it must be possessed of the best boats with which to do its work efficiently … coupled with which there has to be the strictest observance of economy in details.’1 Against the background of such an objective it was proposed to apply the Company’s reserves to the building of large powerful ships while at the same time reducing liabilities and working costs. By such a policy it was hoped that more than adequate facilities would be provided for meeting likely changes in the pattern of trade. In retrospect this was a bold decision, designed as it was to offset prospective loss and increase competitive strength in those branches of the trade likely to be subjected to fluctuating conditions.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Notes
Ibid., Article 7.
MIP, Correspondence, David MacIver to Charles MacIver 1874–5 as cited in Chapter 1.
Ibid.
CP, SLB, Charles MacIver to Bateson, Bright and Warr, 6 July 1883.
MIP, Press cuttings Liverpool Daily Post, 13 January 1885.
Ibid.
Ibid.
Ibid.
Ibid.
Ibid.
Ibid., under 1886.
Ibid.
52, 65–7.
F. E. Hyde, Liverpool and the Mersey, op. cit., p. 115.
CP, SLB, John Burns to M.D.H.B., 23 November 1893; 13 December; 1893; 8 February 1894.
Ibid., 23 November 1893.
Ibid., 13 December 1893; the Dock Board disclaimed the view put forward by John Burns.
Ibid., 23 November 1893; ‘the strange conclusion would follow’, wrote Burns, ‘that by the trustees of the port these large ships would be actually driven from it.’
cit., p. 52; T. H. Ismay’s efforts to persuade the Dock Board to do this dated back to 1890.
Ibid.
CP, Accounts and related papers; report of the directors, 10 April 1885; VR, 27 March 1889.
Ibid., Ivernia was of 14,278 tons gross, twin screws with quadruple-expansion engines; Saxonia was of 14,297 tons gross with same engine power.
Ibid.
CP, Report ofthe directors, 21 April 1910.
Ibid.
Ibid.
Ibid.
Ibid.
CP, Report on the Negotiations in relation to the Agreement of the 30 July 1903, made between H.M. Government and the Company, prepared by the Company’s Solicitors for the use of the Chairman and Directors, 2 vols (1905); hereafter cited Cunard and the Government; I, 17.
32, 3 March 1902. Messrs Watson and Smith, stockbrokers of Glasgow, called upon Messrs Penny and MacGeorge, stockbrokers acting for the trustees of the late Lord Inverclyde, to find out what price would be taken for a large block of Cunard shares.
Ibid.
I, 22: Mr O’Hagan’s many activities are recorded in his autobiography, Leaves from my Life, 2 vols (1929).
Ibid., I, 32, 3 March 1902.
Ibid., I, 34–5.
Ibid., I, 38; Sir Christopher Furness had a first interview with Lord Inverclyde on 12 April 1902.
Ibid., I, 33.
CP, Correspondence, Lord Inverclyde to Lord Selborne, 12 March 1902.
Ibid., Lord Selborne to Lord Inverclyde, 13 March 1902; Lord Inverclyde to Lord Selborne, 18 March 1902; CP, Cunard and the Govt, I, 35.
Ibid., Lord Inverclyde to Lord Selborne, 18 March 1902.
Ibid.
CP, Correspondence, Lord Selborne to Lord Inverclyde, 5 April 1902.
Ibid.
CP, Correspondence, Lord Inverclyde to Lord Selborne, 29 March 1902.
CP, Correspondence, Lord Inverclyde to Lord Selborne, 29 March 1902.
CP, Correspondence, Lord Inverclyde to Lord Selborne, 29 March 1902.
Bruce Ismay, 18 May 1905.
CP, Correspondence, Lord Selborne to Lord Inverclyde, 24 April 1902.
CP, Cunard and the Govt, I, 46, 5 May 1902.
Ibid.
Eaves, op. cit., under 1903.
Ibid., 4 June 1902.
Ibid., 4 June 1902, J. Bruce Ismay to C. Dawkins or J. P. Morgan, junior.
Dawkins to J. Bruce Ismay, 5 June 1902.
B. Peat to Lord Inverclyde, 11 June 1902.
Furness to Lord Inverclyde, 3 July 1902.
Ibid., 70.
Chamberlain, 1 August 1902.
Ibid.,
Chamberlain to Lord Inverclyde, 4 August 1902.
W. Balfour to Lord Inverclyde, 7 August 1902.
W. Balfour to Lord Inverclyde, 26 September 1902; WS, Cable dated 1 October 1902.
CP, Agreement under Treasury minute, 31 July 1903, Second Schedule, Clauses 2A and 2B.
Ibid., Part I, Clause 5, Section 5.
An overdraft to the O.S.N. Co. was increased from £400,000 to £550,000 and extended under subsequent arrangements to 1907. This information was supplied by Mr P. Cotterell, Department of Economic History, The University, Leicester.
CP, Analysis from reports of directors and accounts, 1880–1914.
Ibid., 1907–14.
CP, Report of directors and accounts for OGM, 15 April 1915.
RC. on Unseaworthy Ships, Final Report and Minutes of Evidence (1874) Vol. 7; Evidence by John Burns, 24 April 1874, Q.14,985.
Ibid., Q. 15,006.
Ibid., Q.15,009.
Ibid.
CP, Analysis from reports of directors and accounts, 1880–1914.
Author information
Authors and Affiliations
Copyright information
© 1975 Francis E. Hyde
About this chapter
Cite this chapter
Hyde, F.E. (1975). Costs, Revenue and Returns 1880–1914. In: Cunard and the North Atlantic 1840–1973. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-02390-5_5
Download citation
DOI: https://doi.org/10.1007/978-1-349-02390-5_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-02392-9
Online ISBN: 978-1-349-02390-5
eBook Packages: Palgrave Business & Management CollectionBusiness and Management (R0)